AP NEWS

Titan International: 1Q Earnings Snapshot

May 7, 2020 GMT

QUINCY, Ill. (AP) _ Titan International Inc. (TWI) on Thursday reported a first-quarter loss of $25.5 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Quincy, Illinois-based company said it had a loss of 42 cents. Losses, adjusted for non-recurring costs and asset impairment costs, were 18 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.

The wheel and tire supplier posted revenue of $341.5 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $365.8 million.

The company’s shares closed at $1.09. A year ago, they were trading at $5.72.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TWI at https://www.zacks.com/ap/TWI